Business Context and Reporting Period
This Form 8-K Current Report is filed by Virginia National Bankshares Corp (VABK) on November 19, 2025. The filing reports a significant change in executive leadership effective November 21, 2025, involving the transition of the Chief Financial Officer (CFO) role.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on personnel changes and compensation arrangements rather than financial performance data.
Material Changes
- Departure of CFO: Tara Y. Harrison is transitioning from Executive Vice President and CFO to Senior Advisor. The departure is due to personal reasons and is not the result of any disagreement regarding operations, policies, or financial disclosures.
- Appointment of New CFO: Cathy W. Liles is appointed as Executive Vice President and CFO, effective November 21, 2025.
- Compensation for New CFO: Ms. Liles will receive an annual base salary of $275,000, subject to annual adjustment, and will participate in short- and long-term incentive plans.
- Equity Grant: Ms. Liles was granted a stock option to purchase 2,000 shares of common stock, vesting in equal parts over four years.
Outlook, Risks, and Management Commentary
Management indicates that Ms. Harrison will serve as Senior Advisor indefinitely until retirement to ensure an orderly transition. The filing explicitly states there are no reportable related party transactions involving Ms. Liles or her immediate family, nor are there family relationships between Ms. Liles and current directors or officers. No specific financial guidance or new risk factors were disclosed in this filing.
Investor Verification Checklist
- Verify the effective date of the CFO transition (November 21, 2025).
- Review the attached press release (Exhibit 99.1) for additional context on the leadership change.
- Confirm the vesting schedule and terms of the 2,000-share stock option granted to Ms. Liles.
- Check the Company's 2025 proxy statement for details on the short- and long-term incentive plans referenced in the filing.